Consumer spending rises strongly in September

Reuters

U.S. consumer spending rose solidly in September as households stepped up purchases on automobiles and a range of other goods, setting up a firmer base for consumption this quarter.

The Commerce Department said on Monday consumer spending increased 0.8 percent after a unrevised 0.5 percent gain in August.

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Economists polled by Reuters had expected spending, which accounts for about 70 percent of U.S. economic activity to increase 0.6 percent in September.